Maharatna Power PSU Set To Mull Dividend In 3-Days, Buy Recommended; Check Fresh TP

Maharatna CPSE NTPC Ltd will consider and approve financial results on October 24, 2024. The PSU will also consider interim dividend in the same meeting. November 2nd has been fixed as the record date for interim dividend, if declared by the Board. It offers 1.82% dividend yield. Current market price of NTPC shares on BSE is Rs 420.25 per share with decline of 1.06% at the time of writing the story. NTPC Ltd shares offered attractive return of 36% so far in 2024 and 74% in last 1-year. Its market capitalisation stood at Rs 4,07,502.39 crore. Several analysts have opted to recommend buy call to NTPC shares amid optimistic outlook. FII/FPI have increased holdings from 17.68% to 18.60% in September 2024 quarter. Life insurance corporation of India (LIC) has 3.97% stake in NTPC. Check details below:

NTPC Ltd To Consider Financial Results, Interim Dividend: As per the exchange filing of NTPC Ltd dated October 19, 2024, "a meeting of the Board of Directors of the Company is scheduled to be held at New Delhi on Thursday, 24th October 2024 to, inter-alia, consider, approve and take on record the Un-audited Financial Results of the Company for the quarter and half year ended 30thSeptember 2024 after these results are reviewed by the Audit Committee of the Board. Interim dividend on the equity share capital of the Company for the Financial Year 2024-25 may also be, inter-alia, considered in the same Meeting of the Board of Directors."

NTPC Sets Record Date For Interim Dividend: The BSE filing added, "Pursuant to Regulation 42 of the SEBI Listing Regulations, 2015, the Company has fixed Saturday, 2nd November 2024 as the record date for the purpose of ascertaining the eligibility of the shareholders for payment of interim dividend, if declared by the Board."

NTPC Dividend History: NTPC recommended 42 dividends since February 25, 2005 and set to recommend next one on October 24. In last 1-year, NTPC announced an equity dividend amounting to Rs 7.75 per share. At the current share price of Rs 420.25, NTPC offers dividend yield of 1.82%.

NTPC Shares Performance: The 52-week high price of NTPC shares on BSE is Rs 448.30 per share (as on 30/09/2024) and 52-week low price is Rs 227.75 per share (as on 26/10/2023), respectively. NTPC shares gained over 15% in last 3-months, soared 155% in last 2-years, and offered stellar returns of 185% in last 3-years.

NTPC Bonus Share History: The large cap PSU offered 1 bonus issue since March 19, 2019. The last Bonus that NTPC declared was in the ratio 1:5 with ex-date of March 19, 2019. It implied shareholders of NTPC received 1 bonus share for every 5 shares held in 2019.

Should You Buy NTPC Shares? Out of a total of 21 analysts tracking NTPC shares, 10 recommended strong buy, 7 analysts gave buy rating, 1 recommended hold call, 2 analysts suggested sell call, and 1 opted to give strong sell call. Meanwhile Arihant Capital said, we are observing a corrective move of previous uptrend on the daily charts. Currently, NTPC has support at Rs 425 - 420 level. It is outperforming the benchmark indices with momentum indicator positively poised. Therefore, traders can buy NTPC shares at current levels with a stop loss of Rs 410 for targets of Rs 470-490 levels in the next couple of weeks.

According to A R Ramachandran, Independent SEBI Research Analyst, "NTPC is bearish on the Daily charts with strong resistance at 429.5. A Daily close above this resistance could lead to target of 448 in the near term. Strong support will be at 411."

NTPC About: Established in 1975, NTPC is steering ahead to be India's largest integrated power company and targets to become a 130 GW firm by 2032. NTPC has comprehensive Rehabilitation & Resettlement and CSR policies well integrated with its core business of setting up power projects and generating electricity. NTPC became a Maharatna company in May 2010. As of January 2020, there are 10 Maharatnas CPSEs in India. NTPC is ranked No. 2 Independent Power Producer(IPP) in Platts Top 250 Global Energy Company rankings.

Disclaimer:

The stock has been picked from the brokerage report of AR Ramchandran and Arihant Capital. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.